New and improved Klarna Card announced in the US, empowering smarter spending and greater financial control

NEW YORKApril 17, 2024 /PRNewswire/ — Klarna, the AI-powered global payments network and shopping assistant, today announced it has opened its waitlist for the new Klarna Card to all US consumers. The Klarna Card, issued by WebBank, offers flexible payment options in both physical stores and online, empowering consumers to make purchases anywhere Visa is accepted; and with no foreign transaction fees while abroad. On the heels of the Klarna Card’s success in Europe, the new offering follows Klarna’s track record of providing sustainable and flexible payment options everywhere and is a welcome alternative to high-cost credit cards that have hidden fees.

“We’re finally bringing the new Klarna Card to the US market, a product that gives consumers more financial control to choose how they want to pay,” said Sebastian Siemiatkowski, Co-Founder and CEO of Klarna. “Unlike many traditional credit cards, the Klarna Card is transparent with no hidden fees, gives consumers increased payment options, flexibility, and cashback when they use the card in our app, meaning they have a smarter way to manage their finances.”

In 2023 credit card debt hit a new record high of $1.13 trillion, according to the Federal Reserve Bank of New York. The Klarna Card offers a healthier and more sustainable option with payment flexibility, including an option to pay a monthly statement in full at zero interest, pay earlier than the statement due date at zero interest, or to pay over time or move a purchase to the next statement with interest. This variety of choices grants consumers the power to budget and manage credit according to their needs, promoting responsible spending without the pitfalls of traditional credit cards.

The Klarna Card seamlessly integrates into Klarna’s best-in-class shopping experience with the Klarna app. When integrating the Card with the app, users can find the best deal and buy it in just a few taps with a seamless checkout experience. Once purchased, customers have the option to change how they want to repay by updating their payment method and track their spending all in one place, giving them greater financial control.

Key features of the new Klarna Card include:

  • No monthly or annual fee*
  • Pay anywhere Visa is accepted, including in-store, online, and internationally
  • Zero foreign transaction fees when shopping abroad
  • Earn up to 10% cashback when you use the card in the Klarna app
  • Physical and virtual Visa card compatible with Google and Apple Pay
  • Flexible payment options with no revolving credit, including:
    • Pay monthly statement in full with zero interest
    • Pay for transactions early with zero interest
    • Move a purchase due date to the next month’s statement (interest applicable)*
    • Pay over time on eligible purchases in 3 or 6 monthly payments (interest applicable)*
  • Full spending overview in the Klarna app for financial budgeting
  • Seamless integration with the Klarna app enabling consumers to find the best deals and integrates fully with Klarna’s AI Assistant

*Price and product features subject to change

The Klarna Card is subject to eligibility based on the following criteria:

  • Users need to be at least 18 years of age
  • US resident
  • Have previously purchased with Klarna and repaid on time at least once
  • Pass the credit assessment, based on internal and external credit checks

A recent survey by Klarna and Harris Poll reveals 41% of American credit card users are revolving month-to-month, with approximately one quarter of credit card users (23%) saying they have paid their credit card late and incurred a late fee, or had a credit card payment go into debt collection over the last year. In comparison Klarna’s data shows 31% of Klarna BNPL users paid their bills early, 65% paid on time, and only 4% incurred late fees in 2023. Additionally, Klarna’s global default rate stands at less than 1%, significantly lower than the delinquency rates associated with credit cards, and 99% of payments are repaid in full and on time.

Consumers can sign up for the Klarna Card waitlist here, rolling out over the next few months.

ABOUT KLARNA

Since 2005 Klarna has been on a mission to accelerate commerce with consumer needs at the heart of it. With over 150 million global active users and 2 million transactions per day, Klarna’s fair, sustainable and AI-powered payment and shopping solutions are revolutionizing the way people shop and pay online and in-store, empowering consumers to shop smarter with greater confidence and convenience. More than 500,000 global retailers integrate Klarna’s innovative technology and marketing solutions to drive growth and loyalty, including H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb. For more information, visit Klarna.com.

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.